Energy Trading Update and Market Outlook: Nirmal Bang

petrolCrude oil: Crude prices have been very volatile with-in the range for the entire week. However prices have given a new high yesterday of 3454, with rising RSI and rising +DI. Thus the bias is on the upside targeting 3500 levels. Dropping below the 3325 levels can be negative for the prices.

Natural Gas: The counter sharply declined yesterday, however prices are seen taking support at the support line at 179-80. Prices are expected to maintain above 179 levels and move up back to 190 levels. But breaching the support prices can drop down to 174-75 levels for the day.